Buying vs. Leasing at Ashland Ford Chrysler
If it’s time for you to get behind the wheel of a new vehicle, it means it’s also time for you to make the choice between buying and leasing. Here at Ashland Ford Chrysler, we believe both have pros and cons. We want to get to know you, your driving style, and your needs so we can help you make the financial decision that will be best for you now and in the long term.
Here are a few questions to ask yourself that can help you make the right choice:
- What is my financial situation? Buying a vehicle often includes a down payment and a higher monthly payment since you are paying the full cost of the vehicle plus interest. With leasing, you may have to put no money down and usually can get a nicer car for a lower monthly payment.
- Do I commute often? For those who put a lot of miles on their vehicle, leasing is usually not the best choice since most lease agreements have mileage limits. Whether you have a long commute or take multiple weekend road trips, you’ll want to consider buying a car to avoid mileage penalties.
- Do I like to customize my vehicle? Leasing a vehicle is similar to renting an apartment; everything has to be like it was when you are finished with it. That means, you won’t be able to do a lot of customization to your car if you lease.
- Do I hope to drive payment free one day? If you do, buying is the option for you since you’ll own your vehicle once your loan is paid off and can drive it as long as you’d like payment free. With leasing, you’ll return your vehicle to dealership at the end of the lease instead of driving payment free.
- Do I like to always drive a new vehicle? If you do, leasing might be a great option for you since it allows you to move into a newer vehicle at specified intervals without having to trade in or sell your existing car.